INSUBCONTINENT EXCLUSIVE:
TVS Motor Company Ltd posted an about 31 percent increase in quarterly profit on Wednesday, helped by higher vehicle sales at home and
growth in exports, but missed analysts' estimates.
Net profit came in at 1.66 billion rupees ($24.47 million) for the fourth quarter ended
March 31, compared with a profit of 1.27 billion rupees a year earlier, the company said.
Analysts on average expected a quarterly profit of
2.04 billion rupees, Thomson Reuters Eikon data showed.
Overall two-wheeler and three-wheeler sales in the quarter grew 31.7 percent to
889,000 units, with the motorcycles segment posting a growth of 61.1 percent
Exports rose 45.3 percent to 111,000 units.
Shares of TVS Motor were down 2.5 percent as of 0835 GMT.
